Alternative Block Chains : be safe!

[ycoin123]

I haven't seen anybody post about what would be my biggest worry if I were trying out alternative block chains. I realize this may be perceived as "Gavin is FUD'ding anything that isn't bitcoin!"  (FUD == Fear, Uncertainty and Doubt)  But I think some of you might be forgetting some basic computer security fundamentals in the excitement to be early adopters.

When I first heard about bitcoin, my questions were:

1) Can it possibly work (do the ideas for how it works make sense)?
2) Is it a scam?
3) If it is not a scam, could it open my computer up to viruses/trojans if I run it?

I answered those questions by:

1) Reading and understanding Satoshi's whitepaper.  Then thinking about it for a day or two and reading it again.
2) Finding out everything I could about the project.  I read every forum thread here (there were probably under a hundred threads back then) and read Satoshi's initial postings on the crypto mailing list.
3) Downloaded and skimmed the source code to see if it looked vulnerable to buffer overflow or other remotely exploitable attacks.

If I were going to experiment with an alternative block-chain, I'd go through the same process again. But I'm an old conservative fuddy-duddy.

If you want to take a risk on a brand-new alternative block-chain, I'd strongly suggest that you:

1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable.
2) Don't invest more money or time than you can afford to lose.
3) Use a different passphrase at every exchange site.

thanky MR. Gavin

[robogil]

Please join our Alt Blockchain Thought Network at https://thought.live

[Ragnarok9028]

I haven't seen anybody post about what would be my biggest worry if I were trying out alternative block chains. I realize this may be perceived as "Gavin is FUD'ding anything that isn't bitcoin!"  (FUD == Fear, Uncertainty and Doubt)  But I think some of you might be forgetting some basic computer security fundamentals in the excitement to be early adopters.

When I first heard about bitcoin, my questions were:

1) Can it possibly work (do the ideas for how it works make sense)?
2) Is it a scam?
3) If it is not a scam, could it open my computer up to viruses/trojans if I run it?

I answered those questions by:

1) Reading and understanding Satoshi's whitepaper.  Then thinking about it for a day or two and reading it again.
2) Finding out everything I could about the project.  I read every forum thread here (there were probably under a hundred threads back then) and read Satoshi's initial postings on the crypto mailing list.
3) Downloaded and skimmed the source code to see if it looked vulnerable to buffer overflow or other remotely exploitable attacks.

If I were going to experiment with an alternative block-chain, I'd go through the same process again. But I'm an old conservative fuddy-duddy.

If you want to take a risk on a brand-new alternative block-chain, I'd strongly suggest that you:

1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable.
2) Don't invest more money or time than you can afford to lose.
3) Use a different passphrase at every exchange site.

nice one

[mebeforeyou2411]

If you have a significant amount of Bitcoins, I wouldn't run other clients on the same computer until the alternates have developed trust over a longer period of time

[monika27]

Good advice so as not to get caught by scammers who will use your pc's resources.

[jsoodan]

Its awesome to read the discussion from 2011. "Transferring 5000 BTC wow"

[princ.imran]

I haven't seen anybody post about what would be my biggest worry if I were trying out alternative block chains. I realize this may be perceived as "Gavin is FUD'ding anything that isn't bitcoin!"  (FUD == Fear, Uncertainty and Doubt)  But I think some of you might be forgetting some basic computer security fundamentals in the excitement to be early adopters.

When I first heard about bitcoin, my questions were:

1) Can it possibly work (do the ideas for how it works make sense)?
2) Is it a scam?
3) If it is not a scam, could it open my computer up to viruses/trojans if I run it?

I answered those questions by:

1) Reading and understanding Satoshi's whitepaper.  Then thinking about it for a day or two and reading it again.
2) Finding out everything I could about the project.  I read every forum thread here (there were probably under a hundred threads back then) and read Satoshi's initial postings on the crypto mailing list.
3) Downloaded and skimmed the source code to see if it looked vulnerable to buffer overflow or other remotely exploitable attacks.

If I were going to experiment with an alternative block-chain, I'd go through the same process again. But I'm an old conservative fuddy-duddy.

If you want to take a risk on a brand-new alternative block-chain, I'd strongly suggest that you:

1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable.
2) Don't invest more money or time than you can afford to lose.
3) Use a different passphrase at every exchange site.

You was giving me answered all my questions. Thank you very much sir. But Have any Photo Id verification on blockchain?

[hary250219]

XAUR is listed on (link: https://coinmarketcap.com/currencies/xaurum/) coinmarketcap.com/currencies/xau… and available on the following exchangers.
Hitbtc
Livecoin
C-cex
Etherdelta
Mercatox

Airdrop is limited to 2000 registered subscribers.

[ovcijisir]

1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable.

That's why I think it is better to hold coins that are risky on exchanges, rather than in software wallets.

[elimi]

follow a different approach, in my opinion easier. this situation is not at all limited to the Bitcoin community or even IT in general. and there must be seriousness.

[amazingjcoin]

CHECK OUT THIS AMAZING SWISS PROJECT!! It's the first legal ICO under Swiss laws, launched by the Ex-CDO of Credit Suisse! I mean guys, even people from the traditional banking industry are now turning their back to the classic investment methods. I am blown away how cool this project actually is. Can you imagine co-owning luxury goods? What do you think about TEND?

Here's the link:

https://www.tend.swiss/

[btc.fanda]

I agree with you. That's partly why I have not messed with the alt chains. I even mentioned this in the announcement thread for lxcoin but it got drowned out with all the excitement about it.

[chatwithme9x]

Thanks very much

[StrongWind]

Still waiting for Tezos to appear, but less and less sure with each month pass away.

[Kilomans]

Blokchains Within popular media, the prototypical system used to explain blockchain is the bitcoin network. But this is just one type of solution in this space. It is useful to think of three main types of blockchain, or “distributedledger” Blockchain exists at the cross-over between economics and technology. To apply it effectively, we need to understand both sides of its personality. The economics of a system will affect the technical design and vice versa..

[baksokemarau]

Thanks

[monika27]

I'm very happy that the Block Chains now offers more protection than ever before.There is no comparison with this decentralized network.So keep your password be hidden and be safe.

[screwUdriver]

Blokchains Within popular media, the prototypical system used to explain blockchain is the bitcoin network. But this is just one type of solution in this space. It is useful to think of three main types of blockchain, or “distributedledger” Blockchain exists at the cross-over between economics and technology. To apply it effectively, we need to understand both sides of its personality. The economics of a system will affect the technical design and vice versa..

The Blockchain is the underlying technology supporting digital currencies like Bitcoin; it's a decentralized platform that securely processes transactions ... individuals, businesses, and governments are constantly locked in a battle against bugs, fraud, and malicious actors, blockchains propose an alternative.

[t241690]

Good advice.

Using an alternate cryptocurrency client would be a great way to get many people to install a hidden virus that targets Bitcoin users.

If you have a significant amount of Bitcoins, I wouldn't run other clients on the same computer until the alternates have developed trust over a longer period of time... I'm probably on the paranoid side of things though.

These new cryptocurrencies are interesting, and it will be fascinating to see how it will all play out.
Thank you so much

[eugene_leonard]

Great advice. Thanks for this!!!